Standard Chartered has released a report titled “Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts,” forecasting that global Islamic finance assets will rise to USD 7.5 trillion by 2028. This marks an increase from USD 5.5 trillion in 2024, highlighting the growing importance of Shariah-compliant finance worldwide.
In 2024, the industry exceeded USD 5 trillion in global assets, representing a 12% growth from the previous year and a 43% rise since 2020. Islamic banking comprises over 70% of total Islamic finance assets, with projections indicating growth from USD 4 trillion in 2024 to USD 5.2 trillion by 2028. The Sukuk market is also anticipated to grow from USD 971 billion to USD 1.5 trillion within this timeframe.
Khurram Hilal, CEO of Group Islamic Banking at Standard Chartered, stated: “Islamic finance is entering a new era defined by scale, sustainability and strategic integration. The projected 36% increase in assets reflects strong fundamentals and global appetite for ethical and inclusive finance.”
The report offers insights into the Islamic finance landscape and includes findings from the “Pulse of Islamic Banking” client survey conducted in 2025. It analyzes growth drivers, regulatory developments, and market expansion opportunities while addressing challenges related to regulation, liquidity, and risk management. Additionally, it discusses market oversight frameworks, innovation pathways, and ESG integration with real-world solution case studies.
Khurram further noted: “Fostering innovation, strengthened market connectivity, and sustainability will unlock the greatest opportunities in the future of Islamic finance.”
Standard Chartered Saadiq remains the only international bank with a global Islamic banking franchise offering Shariah-compliant solutions across financial institutions, corporates, wealth management, retail, and private banking sectors in over 25 countries.
For more details on the report visit https://www.sc.com/en/corporate-investment-banking/islamic-banking/campaign-2.
For additional information contact:
Alvina Neo
Standard Chartered
Wasim Ben Khadra
Standard Chartered